Car Insurance premium for my car just went up 60% for no reason. Apparently this is uk wide with increases from 40 to 100% and over yoy.
Turing, Shannon, Wolfram
Owning ETF is actually 2 layers of custody - first IOU from the broker (there are no ETF physician bearer instruments afaik), then IOU for actual BTC (not necessarily redeemable). Maybe we should have language / scientific terms for the degree of actual ownership.
US Debt ceiling soon to be raised … for the 79th time.
New academic paper from UCL 🇬🇧 on bitcoin mining
“Takeaways
Bitcoin mining displays a promising, though not yet entirely confirmed, potential to support renewable energy penetration. This is relevant as it shows a tool that may be of aid toward grid decarbonization.”
🤣 
💸 TLDR it’s the bank’s problems to make sure they can instantly conjure the actual money matching these IOUs. Leveraged banks + fednow > Faster bank runs + larger bailouts ?
“$Step 8: Funds availability and notification to customer: As a term of participation in the FedNow Service, the Federal Reserve Banks anticipate requiring the Receiver FI to make funds available to the recipient immediately after step 7.”
“Liquidity Management
FIs that send credit transfers or provide settlement services in the FedNow Service will need a strategy to maintain liquidity for instant payments. As with settlement, this may involve either making internal adjustments, sourcing liquidity from the Discount Window, another Fl or via a correspondent.“
“Making Funds Available Immediately
As noted, participant FIs will be expected to make funds available immediately following receipt of an advice of credit. Under Regulation J and Operating Circular 8, this means that a Receiver Fl is required to make funds available as soon as is practicable and no more than a few seconds after receipt of an advice, with one exception (see Understanding Accept Without Posting below). The Federal Reserve Banks will not prescribe how Fis should make the funds available to their customers from an operational standpoint. A participant FI could meet the availability standard, for example, by memo-posting (where the funds are not yet posted but the funds are included in the customers' balance) or by opting to post the funds to a customer account directly, so long as the funds are available for their customer to use.”
“Liquidity Expectations
There are a few key points to keep in mind when thinking about liquidity management and the FedNow Service:
• FedNow participants or their correspondents will be expected to maintain balances in their master accounts to settle FedNow transactions, consistent with the Federal Reserve's Policy on Payment System Risk.
• Participants should not expect the FedNow Service, at initial launch, to reject payments based on a participant's insufficient balance or overdraft capacity, even if the Federal Reserve Banks do so for other services. However, standard intra-day and overnight overdraft fees will apply.
• The Federal Reserve Banks do not intend to open the Discount Window outside of standard hours. During its business day, the Federal Reserve Banks will provide intra-day credit to FedNow participants under the same terms and conditions as its other services.”
Fednow “white paper” https://explore.fednow.org/resources/customer-readiness-guide.pdf
Bon week-end à tous et toutes les nostruches francophones 🧡💜
In before the AGIs
Can’t wait for greenpeace to start their PR roadshow with this insanely cool Bitcoin skull ahahah🚨💀🚨
Priceless: Ripple accidentally funding one of the best paid marketing and education campaign to date for Bitcoin as a green technology🚨💀🚨🤣
They have scope to “inject” up to 2T. So that’s about 90M BTC - not available - or put another way 2M BTC at 1M a pop 🧐 that’s one country one year, now I will stop before talking quadrillion 🤣
The fed just printed 13M bitcoin … since Friday. Few.
Excellent read. This would make a great disaster movie.
Would you not say that values and ethics are what really count in the end, regardless of someones faith or different beliefs? Values don’t have to come from religion, not all have, many have in the past, while not only positive values come from it. All can come from other sources and life experiences.
Shared values around defending civil rights by making tools are building a sense of community on nostr.
Great book centered on dynamic value: Lila by Robert Pirsig.